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Mortgage Payments

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rustyjoe

Junior Member
What is the name of your state? Florida

I was appointed the PR of my Sons Estate after he passed away. Three days prior to his passing he completed securing a new first mtg. on his home. My Attorney tells me to "Throw them a bone" meaning payments to the new Mtg Co if I want to keep the house, which I do. We are now in month # 8 of a small estate. My question is, do I get compensated for the payments I am making to keep the house from being foreclosed on, and the upkeep? as per yardwork, new water pump, hot water heater. My attorney won't return most of my calls or emails and when she does she does not explain anything. It appears my questions bother her.
any info is greatly appreciated,
Rusty:confused:
 


JETX

Senior Member
My Attorney tells me to "Throw them a bone" meaning payments to the new Mtg Co if I want to keep the house, which I do.
What does that mean?? Are you LIVING in the house??
If not, why would you want to keep it??

do I get compensated for the payments I am making to keep the house from being foreclosed on, and the upkeep?
The estate should be paying for the property of the estate.
 

rustyjoe

Junior Member
No I am not living in the house.
There is no money in the estate to pay the mortgage or upkeep. The home is all he had left, he had lost everything else, that is why he had it re-mortgaged
The new Mtg. is $70,000 and the home is valued at $165,000.
Is their a reason why I wouldn't want to keep it?

As this appears to be a professional board I considered this to be a legitimate question. If not please let me know.
 
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nextwife

Senior Member
Yes, it makes sense to preserve the equity. As PR, you can sell the home, it is an estate asset, and it's equity can be used to pay off estate debts, if there are no other funds in the estate to do so.. You can keep track of your loan to the estate and repay yourself what is owed out of closing proceeds.. The proceeds belong to the estate.

The house belongs to the estate, and depending upon how many other parties stand to inherit under your states intestate laws, you may only be entitled to a partial share of the house. Of course you can offer to buy out anyone elses interest.
 
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rustyjoe

Junior Member
Nextwife thank you for the informative and intelligent answer. I don't understand the answer I received from the first poster. I am making the payments out of pocket as their is no money in his estate. His debts are minimal. My reason for asking that is their are two Life Insurance Policies passed to him when my Father passed away he has never submitted claim for. Neither of these has a beneficiary named other than him.
Rusty
 

seniorjudge

Senior Member
Ah! New information....

Now, tell us...how much are these life insurance policies worth?

Why has it taken so long to collect them?

Did your son have any other heirs?

In other words, did your son have a father, brother, sister, child, wife, etc. who survived him? If so, we need facts and details.

Did your son have a will?

If you don't want the house, then why haven't you sold it?
 

rustyjoe

Junior Member
Their are two policies worth about $12,000.00 My attorney is extremely slow. It took her six months to file for probate after she had all the info. Yes I am going to keep the house and maybe use it for rental property,. I am not sure of what yet. It will cost me about $5000,00 to get the house up to code for an inspection and appraisal. I am his Father and the only heir. His Mother wrote off on the whole deal as my Father was the original owner of the house and he left it to my son.
My attorney is really very little help. Any information I get from her is almost by begging. I made five payments on the house I don't think I should have made. I saw her, paid for her services and gave her all the information in on August 21, 2006. She filed the probate on February 27, 2007. She has no excuse for why she waitef so long.
I will be glad to answer any more questions as you people are helping me to understand things that my attorney won't address. I am in the 9th month of a small estate probate.
Rusty
 

cp1957

Member
Their are two policies worth about $12,000.00 My attorney is extremely slow. It took her six months to file for probate after she had all the info. Yes I am going to keep the house and maybe use it for rental property,. I am not sure of what yet. It will cost me about $5000,00 to get the house up to code for an inspection and appraisal. I am his Father and the only heir. His Mother wrote off on the whole deal as my Father was the original owner of the house and he left it to my son.
My attorney is really very little help. Any information I get from her is almost by begging. I made five payments on the house I don't think I should have made. I saw her, paid for her services and gave her all the information in on August 21, 2006. She filed the probate on February 27, 2007. She has no excuse for why she waitef so long.
I will be glad to answer any more questions as you people are helping me to understand things that my attorney won't address. I am in the 9th month of a small estate probate.
Rusty
Hi Rusty, my probate has been going on for over a year! Our lawyers sound like they have alot in common, they are both slow and mine is very rude. Good luck to you in your probate. Sorry for the loss of your son.
 

ladybg1

Member
who was the beneficiary of the life ins--you or the estate? If it was you-that $$ is yours & not an estate asset. If you use the money to pay the mtg & make upgrades to the house to sell it, you would be reimbursed when the house sells. Check with a tax person on what would be the best time to sell it-before probate closes or after. There may be differences in the capital gain tax you would pay.
 

rustyjoe

Junior Member
The beneficiary to the insurance policies was my son, he left no will. They were left to him by his grandfather whom also left him the home that is in probate. The insurance policies were never surrendered for payment. They are now in the hands of Mollasses Jane, my attorney. I cant sell the home as it needs repairs & inspections before it can be sold.
Rusty
 

ladybg1

Member
then the proceeds from the ins should go into an Estate acct & as PR-that is what should be used to pay the mtg & do the upgrades necessary. Maybe you need to light a fire under Molasses Jane by interviewing a new probate atty & possibly changing to one who will actually help get this done. Unfortunately from my own experience & others that I know, the PR usually has to do a lot of leg work & become a squeaky wheel in the atty ofc to get stuff all done. Completing probate just seems to go to the bottom of the todo pile.
Also-You've said that you are the only heir, but since it is an intestate case-the state isn't going to care about what his mom said about staying out of it unless you have it in writting.
 

rustyjoe

Junior Member
Yes she signed away all rights to the property and estate. She said she had no right to what my Father had worked for all of his life. She slso knows he wasn't quite right when he gave everything to my son. We have been divorced over 25 years also.
 

rustyjoe

Junior Member
Foreclosure

Can a home that is in probate be foreclosed on?
The home also has several judgements against it. I understand a judgement is not against the residence but the owner is this correct? How do I get the judgements off of the home?
RustyJoe:confused:
 

moburkes

Senior Member
Can a home that is in probate be foreclosed on?
The home also has several judgements against it. I understand a judgement is not against the residence but the owner is this correct? How do I get the judgements off of the home?
RustyJoe:confused:
Absolutely it can. The bank is owed money. You can only get the judgments off the home by satisfying them (ie paying them).
 

nextwife

Senior Member
Can a home that is in probate be foreclosed on?
The home also has several judgements against it. I understand a judgement is not against the residence but the owner is this correct? How do I get the judgements off of the home?
RustyJoe:confused:
A docketed judgement attaches to all real estate owned by the debtor in that county.

A judgement can be paid off out of the closing proceeds. Or in advance of the closing. Once paid off, the plaintiff can provide a release.
 

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